LegalZoom.com, Inc. $LZ Shares Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS boosted its stake in LegalZoom.com, Inc. (NASDAQ:LZ - Free Report) by 196.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,400 shares of the company's stock after acquiring an additional 42,000 shares during the period. KLP Kapitalforvaltning AS's holdings in LegalZoom.com were worth $565,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new position in LegalZoom.com during the first quarter worth $29,000. GAMMA Investing LLC lifted its stake in LegalZoom.com by 2,750.6% during the first quarter. GAMMA Investing LLC now owns 9,635 shares of the company's stock worth $83,000 after purchasing an additional 9,297 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in LegalZoom.com during the first quarter worth $91,000. Bryce Point Capital LLC bought a new position in LegalZoom.com during the first quarter worth $103,000. Finally, Blueshift Asset Management LLC bought a new position in LegalZoom.com during the first quarter worth $121,000. 81.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LZ. Barclays raised their price objective on LegalZoom.com from $9.00 to $10.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 12th. JPMorgan Chase & Co. raised their price objective on LegalZoom.com from $12.00 to $14.00 and gave the stock an "overweight" rating in a research note on Monday, September 8th. Weiss Ratings restated a "hold (c-)" rating on shares of LegalZoom.com in a research note on Wednesday, October 8th. Citigroup raised their price objective on LegalZoom.com from $10.00 to $12.00 and gave the stock a "neutral" rating in a research note on Monday, August 25th. Finally, Bank of America upgraded LegalZoom.com from an "underperform" rating to a "buy" rating and raised their target price for the company from $8.00 to $12.00 in a research note on Friday, August 8th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, LegalZoom.com has an average rating of "Hold" and an average target price of $10.83.

LegalZoom.com Stock Performance

LZ stock opened at $9.92 on Friday. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 62.00, a PEG ratio of 3.03 and a beta of 1.23. LegalZoom.com, Inc. has a 1 year low of $6.47 and a 1 year high of $11.93. The stock's fifty day moving average is $10.56 and its two-hundred day moving average is $9.24.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.15 EPS for the quarter, meeting analysts' consensus estimates of $0.15. The company had revenue of $192.51 million for the quarter, compared to analyst estimates of $182.49 million. LegalZoom.com had a return on equity of 20.36% and a net margin of 4.07%.The company's quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company earned $0.10 earnings per share. LegalZoom.com has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, analysts predict that LegalZoom.com, Inc. will post 0.25 EPS for the current fiscal year.

Insider Activity

In other news, insider Nicole Miller sold 25,154 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $10.82, for a total transaction of $272,166.28. Following the transaction, the insider directly owned 960,032 shares of the company's stock, valued at approximately $10,387,546.24. This trade represents a 2.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Noel Bertram Watson sold 27,319 shares of the firm's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $11.07, for a total value of $302,421.33. Following the transaction, the chief financial officer directly owned 1,676,426 shares in the company, valued at $18,558,035.82. This trade represents a 1.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 109,859 shares of company stock valued at $1,193,100. Company insiders own 5.90% of the company's stock.

About LegalZoom.com

LegalZoom.com, Inc, together with its subsidiaries, operates an online platform that supports the legal, compliance, and business management needs of small businesses and consumers in the United States. The company's platform offers business formation products, such as limited liability company, incorporation of C and S corporations, nonprofit formations, doing-business-as, corporate changes and filings, business licenses, legal forms, and beneficial ownership information reports; intellectual property products consisting of trademark and patent applications, and copyright registrations; and tax services, including business and personal tax preparations.

Want to see what other hedge funds are holding LZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LegalZoom.com, Inc. (NASDAQ:LZ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.